Fed Governor Cook's lawyers call White House hearing biased; removal fight escalates
Lawyers for Federal Reserve Governor Lisa Cook have publicly criticized the White House committee overseeing her removal hearing as biased, and her appearance has been postponed due to official commitments. President Trump is seeking to remove Cook over alleged mortgage fraud, a move experts say challenges the Fed's traditional independence. The dispute marks an unprecedented political intervention into the central bank's leadership, with implications for monetary policy credibility.
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Trump Administration Escalates Effort to Remove Fed Governor Cook
The Trump administration has intensified efforts to remove Federal Reserve Governor Lisa Cook, with President Trump directing appointees to assess the legality of her ouster. Cook's lawyers have publicly challenged the White House committee overseeing her removal hearing, alleging bias and postponing her appearance. This marks an unprecedented political intervention into the central bank's leadership, raising concerns about Fed independence.